Tuesday, 15 January 2013

Acasti Pharma – Gathering Tail Winds For Onemia Sales

Acasti Pharma
Shares Outstanding: 79.4 million
Fully Diluted: 91.4 million

In today’s Q3 (Nov. 30) results news release, progress was clearly evident as Acasti announced that it generated $424 thousand in Onemia sales and $675 thousand for the nine months.

This is rather important considering that the first three quarters of Fiscal 2012 saw zero revenues. We spoke with management for some background. The sales were primarily driven by Xymogen - a distributor of, Onemia™, which is a medical food product.

Other sales came from relationships developed at trade shows and through Onemia’s website - http://www.onemia.com

In the news release Dr. Harlan Waksal, Acasti’s Executive Vice President, stated, "Acasti achieved important milestones over the last few months, including; the prepayment of Neptune's royalties making Acasti royalty free, its first clinical trial insight indicating an approximate 25% reduction in triglycerides at a 2g dose of CaPre® and more recently the listing on NASDAQ. All of these accomplishments are pivotal developments, preceding the expected completion of our open-label clinical trial in the coming months."

Acasti is focused on treatments for chronic cardiovascular and cardiometabolic conditions within the over-the-counter, medical food and prescription drug markets. Onemia is its first product and is undergoing Phase II clinical trials for Capre, which is targeted at the pharma market.

To view the news release, please click here